Aluminum, energy, health care: Where Dennis Gartman and other strategists are bullish

Dennis Gartman said Thursday that he hates the Environmental Protection Agency, but the EPA’s push for more fuel-efficient cars helps make him bullish toward aluminum.

The publisher of The Gartman Letter spoke at ETF.com’s Global Macro ETF Strategist Conference in New York, taking part in a panel with David Kotok of Cumberland Advisors and Jim Lowell of Adviser Investments.

When asked for areas where they’re bullish, Gartman said aluminum, Kotok said energy and Lowell went with health care.

“Aluminum is exciting to me,” Gartman told the panel audience. One simple way to boost a car’s miles per gallon is by using aluminum to make it lighter, he said. Gartman also noted that more people in China are buying automobiles.

“To me that’s the easiest trade of all,” he said, referring to aluminum.

Meanwhile, Kotok said energy was one area where he was “excited and bullish.”

“We’re overweight the energy sector,” he said. Kotok, Cumberland’s chairman and chief investment officer, also said he’s gotten more defensive with his ETF portfolios, making utilities the largest single holding.

Lowell said the U.S. energy sector is finding ways to innovate, and the health-care sector is as well. Health-care companies are benefiting from an aging U.S. population and increased demand from emerging markets, he added.

“I continue to like healthcare,” said Lowell, chief investment officer at Adviser Investments.

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